John McDonnell to set out alternative to capitalism on first visit to Davos summit
2 min read
John McDonnell will set out Labour's plan to overturn the capitalist system on his first visit to the World Economic Forum in Davos.
The Shadow Chancellor has been invited to attend the elite annual gathering in Switzerland later this month alongside the likes of Theresa May, Donald Trump and Emmanuel Macron.
His spokesman said: "John McDonnell has accepted, and will use the opportunity to set out why it is vital we rewrite the rules of the global economy.
"He will further explain Labour’s vision for an alternative economic approach to replace the current model of capitalism that has failed the many; and led to an unsustainable concentration of wealth and power in the hands of a few.
"In addition, he will raise many of the issues facing working people in our country, and across the world.
"The Shadow Chancellor will also call for greater international co-operation on the urgent threat posed by climate change, and raise the problem of growing inequality across the developed world, and the need for countries and corporations to work closer together to clamp down tax avoidance and evasion."
The fact that Mr McDonnell has been invited is a sign of how seriously the economic establishment is taking the prospect of a Labour government following last year's general election.
On its website, the World Economic Forum says this year's event, which runs from 23-26 January, "aims to rededicate leaders from all walks of life to developing a shared narrative to improve the state of the world".
It adds: "By coming together at the start of the year, we can shape the future by joining this unparalleled global effort in co-design, co-creation and collaboration."
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